TXNM Energy (NYSE:TXNM) Rating Increased to Outperform at Mizuho

TXNM Energy (NYSE:TXNM) was upgraded by Mizuho from a “neutral” rating to an “outperform” rating in a report released on Tuesday,Briefing.com Automated Import reports. The firm presently has a $53.00 price target on the stock. Mizuho’s target price would indicate a potential upside of 10.96% from the stock’s previous close.

Several other research firms also recently weighed in on TXNM. Citigroup upped their price objective on shares of TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Scotiabank increased their price target on TXNM Energy from $52.00 to $55.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Wells Fargo & Company increased their target price on shares of TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Barclays raised their price target on shares of TXNM Energy from $49.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Finally, Evercore ISI upgraded TXNM Energy from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $51.00 to $54.00 in a report on Tuesday, February 11th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.43.

TXNM Energy Stock Performance

NYSE:TXNM opened at $47.77 on Tuesday. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. TXNM Energy has a twelve month low of $39.60 and a twelve month high of $54.90. The company has a fifty day moving average of $49.11 and a 200-day moving average of $46.43. The firm has a market capitalization of $4.43 billion, a P/E ratio of 24.88, a P/E/G ratio of 6.12 and a beta of 0.32.

TXNM Energy (NYSE:TXNM) last issued its earnings results on Friday, February 21st. The company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The company had revenue of $476.96 million during the quarter, compared to the consensus estimate of $496.05 million. As a group, sell-side analysts anticipate that TXNM Energy will post 2.73 EPS for the current year.

Institutional Trading of TXNM Energy

Several institutional investors and hedge funds have recently modified their holdings of TXNM. Bessemer Group Inc. purchased a new stake in shares of TXNM Energy during the 4th quarter valued at $27,000. Aster Capital Management DIFC Ltd bought a new position in TXNM Energy in the fourth quarter valued at $38,000. LRI Investments LLC purchased a new stake in TXNM Energy during the fourth quarter valued at about $40,000. Nomura Asset Management Co. Ltd. bought a new stake in TXNM Energy during the fourth quarter worth about $48,000. Finally, NewEdge Advisors LLC purchased a new position in shares of TXNM Energy in the 4th quarter worth about $53,000. Hedge funds and other institutional investors own 91.68% of the company’s stock.

TXNM Energy Company Profile

TXNM Energy, Inc, through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity.